Top 10: Ways To Save Money When Traveling

Number 5

Take your vacation a little later

While the rest of the world returns from vacation and goes back to work, consider taking your time off then. Airlines and vacation spots around the world slash their prices in the off-season to keep the people coming in. Traveling during off-peak days — Monday to Thursday — also helps. And if you know where and when you want to go away, book in advance — the earlier you reserve, the less strenuous it is on your wallet.

Number 4

Don't leave home without it

It pays to use your credit card when traveling overseas. The usage fee will generally be lower than when using traveler's checks and the exchange rate is much more favorable than when converting your own money. But if you must exchange your money, avoid airports, where the conversion rates are horrendous.

Number 3

Stay at a hostel

A wonderful way to cut your traveling expenses is to stay at a hostel. There are no age limits when it comes to who spends the night, and the typical price for a stay ranges anywhere between $10 and $25 per night (depending, of course, on the location and conditions of the hostel). The trade-off between privacy and cost make it a worthwhile consideration and you might just run into other travelers like you, looking to see the world anyway they can.

Number 2

Use your feet

An unnecessary expense when it comes to traveling is transportation, and I'm referring to once you're at your destination. If you know you'll be taking buses and subways often, buy tickets in packages or a pass, whichever option makes more cents to you. As well, find out whether taxi drivers charge a set rate and whether the tip is included in the total fare. And don't be lazy — whip out that map and use your feet (make sure to pack comfortable shoes). This is not only the cheapest way to get around, but you'll also take in as much as you can.

Number 1

Shop around, shop around, shop around...

While this seems obvious, it's still your best bet in order to save cash. Always take the time and make the effort to shop around and ensure that you get the best deals on your airfare, hotel, car rental, and even food. Check with your company while you're at it; sometimes reduced airfares are available to employees. As well, keep your eyes and ears open for seat sales — airlines often resort to these in order to remain competitive.

Remember that getting the best deal involves time and research, which will help you in the long run. Just think — you can use the money saved for your next trip.